All posts tagged Lavasa

Here we are at the India Economic Summit, brought to you by the World Economic Forum — the organization so closely associated with the elite western power structure that is widely predicted to be in terminal decline — as it sets up shop in the financial capital of Mumbai after a couple of lackluster turns in New Delhi.

As is perhaps inevitable in these conferences that are driven by networks and promotions, the topics seem — at least on paper – to push a rather grand view of India’s place in world: “Trading for Aiding the Global Economy: How can India’s increasing South-South trade relations support future global economic growth” for instance. Read More »

Analysts say they are having a hard time keeping track of the twists and turns in the case and investors should steer clear of the stock until the stop-work order issued last year by the ministry on Lavasa Corp. Ltd., a unit of Hindustan Construction, had been lifted permanently. Read More »

Political observes believe that Jairam Ramesh has been prodded by higher-ups in the Congress party to clear key projects Posco and Lavasa.

India’s environment minister, Jairam Ramesh, seems to have found his elusive middle path.

After sending shivers down the industry’s spine by nixing the bauxite mine proposed by London-based miner Vedanta Resources in the remote Niyamgiri Hills in eastern India and pouring cold water on the coal extraction plans of several steelmakers, cement manufacturers and power-generation companies by demarcating several potential reserves as no-go areas, he’s now turned more conciliatory. Read More »

Investors in beleaguered Hindustan Construction Co. finally had reason to smile. On Tuesday, India’s environment ministry submitted a report to an Indian court saying it may clear a project by Lavasa Corp., a unit of HCC, to built a new luxury city in India’s western state of Maharastra, if the company agrees to pay penalties and meet a number of conditions.

That is good news for HCC whose stock has lost 28% of its value since Nov. 25, when the ministry issued a stop-work notice on the Lavasa project, citing environmental concerns.

Lavasa, which has already made substantial investments in developing the township project, went to court saying it was shocked to have received the notice. Read More »

Lavasa was asked to cease work on its hill town project in late November due to issues of environmental clearances.

Lavasa, a builder that aims to create a brand-new hill town in western India, has been in the line of fire from the environment ministry in recent weeks. Just in time for Christmas, it received support from an unexpected quarter.

Residents of 18 villages who were owners of the land that the company, which is nearly 65% owned by Hindustan Construction Co., bought to develop a city over an area of 100 square kilometers in the Sahyadri Mountain range, have said before a court that they support the firm’s development work. Read More »

Not only for people, but for companies too bad news rarely comes alone. Or at least this seems to be the case for Lavasa Corp., a hill city developer which has recently been hit by a wave of terrible news – and just as it nears its initial public offering.

On Thursday the Central Bureau of Investigation alleged Lavasa was one of the companies that benefited from a bribe-for-loan scam case involving several of the India’s state-run banks, an insurance company and a financial services firm. Lavasa denied any wrongdoing and clarified that all its dealings were transparent. Read More »

Mr. X is back from work. He enters his bedroom and the lights come on. He tucks his bag into the nook next to his reddish-brown chestnut dresser, picks a navy blue freshly laundered towel and hits the bathroom. Bedroom turns pitch dark, bathroom lights up.

Lavasa Corporation Ltd.

A view of the promenade in Dasve, one of five planned towns that will make up Lavasa city, near Pune.

The Jetsons – a futuristic family featured in the 1962 animated TV series by the same name – perhaps could have been living in Pune’s Mulshi district in the year 2010 instead of Orbit City in 2062.

Lavasa, a hill city being developed near Pune by the Hindustan Construction Company, claims to be the futuristic utopia of the present for all wannabe Jetsonians. Read More »

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